Gold Confisication worries: Coins as “Jewelry”

//
//

One of the things many folks who look into precious metals worry about is “What if they confiscate the Gold and Silver”

Well for one, and I’ve posted on this before, please read it, but to reiterate briefly, whats worse you buying it and having it confiscated, or you not buying it and its never confiscated and now YOU CANT USE IT!

One of the clauses that was in the disgusting, but toothless bill during the Depression (You know the one they always point to and say “Hey don’t buy it they’ll just take it like FDR did!”) was that jewelry and other things of that nature were exempted.  You couldn’t own say a Gold Coin, but you could own Gold Jewelry…or Gold Coins made into jewelry…as some people did to get around it.

Once again there were two groups of people in that ‘confiscation’

1) The honest citizens who obeyed and turned it in

and

2) the ONE guy who was prosecuted, he tried to pull out a HUGE (5,000 ounces)amount of Gold coins from his bank after the bill went into effect (since they were currency at the time) and he got made and example of.  The prosecution failed and was dropped but he still lost his gold.

The government didn’t bust down doors and rip open grannies mattress, that never happened ok?

However that isn’t to say it is out of the realm of possibility, so one should be aware of it.

WHAT COULD I DO IF THEY DID CONFISCATE?

Like i just mentioned they did not confiscate Jewelry, so some smart individuals made them INTO jewelry.

One way would be to drill them and put a necklace through them, however i WOULD NOT DO THAT! Unless you had no other choice, personally I would rather sack them and bury them in the mountains first, but that is just me.

Another way, and a smarter one is to purchase Coin Pendant Holders like this one

•  This one in particular is made to hold a 1/10 ounce Krugerrand, and is made of 14k gold, so it is actually a pretty nice!

• This one can hold a 1/10 oz Gold Eagle and comes in at just over $16.15

• This one can hold a Gold Double Eagle and costs around $20

• And this one would hold a Walking Liberty Silver Eagle, and costs around $22

In my opinion it would be a WASTE of money to do anything with your silver coins in this fashion, the cost is too high to make it worthwhile, however for your Gold or Platinum Coins, this would make perfect sense.

It would also work well for on the go and bugging out, you could wear your wealth around your neck on a leather strap or shoelace.  Have no other necklaces on, and chances are if you were robbed or stopped no one would look for anything valuable under your shirt on the end of a nasty old shoelace!

Often times when confiscations come, like they do with guns, they will usually follow old laws that have done them in the past to give them more cover or “historical precedent” I think that IF, and that’s a IF a metals confiscation came that’s what it would be like.

First of it would be voluntary and if you had a small amount, say less than 100k chances are you’ll be more than fine, unless you’ve drawn attention to yourself in other ways, like say gone on youtube flashing guns around and making threats.

You would be more than fine to just bury it and call it a day.  However if they did come you could at least make the big ticket stuff like gold eagles into jewelry, so at least you could hold onto them, you can always lie and say that it was stolen last year.  Didn’t call the police because you didn’t have insurance anyways and didn’t want a hassle, etc.

This is another good reason NOT TO BE AN ASS, don’t be on the net making threats, sounding crazy, waving guns around, or googling “how to kill someone”.  This will make you more “desirable” to be searched, and thus put your wealth and preps in more jeopardy.  Be smart, fly under the radar folks.

Side note:

If for some reason you own a Title II weapon (often referred to as a CLASS III weapon, of which there are NONE.  Dealers who sell automatics or suppressors are known as CLASS III dealers, the weapons are known as TITLE II WEAPONS!) Be very wary, and its a good reason NOT TO OWN ONE!  Don’t get me wrong, you should EVERY RIGHT TO, but if you do, as you SHOULD know, then you are subject to ATF inspection at any time of your paperwork. THEY MAY NOT ENTER YOUR HOME OR COMPEL YOU TO PRODUCE THE WEAPON WITHOUT A WARRANT (or subsequent change to the 4th amendment by the Supreme Court).  However this doesn’t mean it may or may not stop them from doing so anyways.  So if I were you I would store my gold, silver, and ALL OTHER weapons in a separate area from you NFA Title II weapons, this way if a legal warrant appeared, or one didn’t but they were a-holes and forced their way in, you can show them where it is and they have no recourse to search the premises.  This also means dont have two safes side by side in the middle of a garage stacked with food buckets and solar panels!